Kotak Mahindra Bank appoints Ashok Vaswani as MD & CEO from Jan 1
Founder-CEO Uday Kotak resigned four months ahead of his retirement.
Founder-CEO Uday Kotak resigned four months ahead of his retirement.
Kotak Mahindra Bank also acquires 6.12% stake in novel therapeutic products company NKURE
Gupta has been serving as a full-time director of the bank since January 1999 and has been designated as the joint MD since January 1, 2022.
In his resignation letter, Uday Kotak says he mulled over the decision for some time and believes this is the right thing for the institution
The bank, whose plan to reduce promoter shareholding through an issue of preference shares was rejected by the RBI, says one of its options is a merger.